Index Evolve - Investigation for Fraud, Impersonation and Perjury – Fake Copyright Takedown Scam

February 27, 2022

                     

Index Evolve / Index Evolve Reviews / indexevolve.com Scam





Index Evolve – Investigation for Fraud, Impersonation and Perjury – Fake Copyright Takedown Scam

Beneficiary of Fake DMCA:Index Evolve / Index Evolve Reviews / indexevolve.com Scam




Contact Info:Website :indexevolve.com
Possible Infringements:Perjury, Impersonation, Identity-theft, Misrepresentation
DMCA Report:https://www.lumendatabase.org/notices/25019945
Original Link:https://theforexreview.com/2021/09/01/infinitgain-review




















Fake Link/Website Used:

https://coreymccoy1.blogspot.com/2021/08/indexevolve-review-5-things-you-should.html











Submitted by:Corey McCoy
Date of Submission: 
September 01, 2021
Cue all manner of gaslighting, starting with a bunch of bogus DMCA takedown notices. I loosely keep track of DMCA takedowns filed to hide the scam done by this organization. Index Evolve really went to town with their efforts to hide the negative content on the internet.
Content Used In Fake DMCA By Index Evolve - 
"Let us now examine whether the company is licensed to operate on the Hong Kong markets – to do so, it would need a license with the regulatory body of the country. And to get one, the company would need to hold over 5 million Hong Kong Dollars, which is about $640 000"

HERE’S OUR INVESTIGATION REPORT

SO WHAT WERE THEY TRYING TO HIDE ?
 
"IndexEvolve is not a worthwhile broker – here is why:



IndexEvolve regulation and safety of funds

IndexEvolve makes some rather hefty claims to regulation – let’s examine them:







Let’s start from the bottom – IndexEvolve claims to be the holder of a license from two offshore jurisdictions – the Bahamas and Mauritius. We looked at the registers of both, starting with the Bahaman one:







IndexEvolve is just not present among the licensed FSPS. And here is our search query on the Mauritius register:



As you can see, the broker is not present within either register. Therefore, these claims are simply lies.



Let us now examine whether the company is licensed to operate on the Hong Kong markets – to do so, it would need a license with the regulatory body of the country. And to get one, the company would need to hold over 5 million Hong Kong Dollars, which is about $640 000. It cannot have that kind of money if it is not licensed with the offshore regulators shown above – both of them require far less to issue a license, so how could IndexEvolve afford the more expensive license if it does not hold the cheaper one?



And finally, the broker is not licensed in Cyprus either – the EU regulator demands not only a higher minimum capital from all of its licensees, but it also makes them offer leverage no higher than 1:30 – and IndexEvolve advertises amounts of up to 1:1000. Without a license, IndexEvolve cannot guarantee it is not a scam – much less provide any safety for your funds!



IndexEvolve trading software

IndexEvolve provides access to a distribution of industry standard Metatrader 4 – it is too bad the distribution is not branded by IndexEvolve, or in any way related to the broker. Here is what we mean:







As you can see, IndexEvolve either has no server on the platform, or that server is quite derelict. The broker’s other platform, a web-based one did not allow us to log in with our IndexEvolve-provided credentials:







This means we were not able to see IndexEvolve’s trading conditions for itself. We doubt the spreads are as tight as IndexEvolve claims on its website – but the broker might very well offer a leverage of up to 1:1000 – that is because while such amounts are banned in the EU and most regulatory jurisdictions as too dangerous to the retail trader, unlicensed brokers often have them available in what is nothing more but a bid to attract more clients! This means you should exercise caution whenever you are dealing with a high-leverage broker, as nine out of ten of these companies are not licensed.



IndexEvolve deposit and withdrawal conditions and fees

IndexEvolve accepts deposits only through credit cards – this is good news, as it allows for chargebacks to be filed on payments within 540 days of the transaction. If you have deposited with the broker, that might be the only way to get your money back – the company does not have its withdrawal policy available to anyone!



How does the scam work?

There can be little doubt that IndexEvolve is running a scam – here is how the scheme it follows usually unfolds:



Someone makes an account with the broker and leaves their phone – scammers always make that a mandatory condition to open an account with them, because they then use the number to harass their clients for deposits. These demands will come in ceaselessly until the victim either runs out of money or realizes they are being conned. At that point, the scammers will cut them off and move on to their next target.



What to do when scammed?

If you have been the victim of a scam, take the following step to reduce your losses:



First off, recall what forms of ID, credit card and so on the scammers had access to – and get new ones issued ASAP. Also, remove any remote control software they had you install on your PC.



You would then want to file a chargeback with your bank – contact them and ask for instructions. However, if a recovery agency reaches out to you and offers its services at the cost of an upfront fee, know it to be another scam!



Finally, do not hesitate to speak up about your experience with IndexEvolve – leave a comment below, as it could help convince someone to avoid the company and spare them the money and headaches from dealing with it!"

Read More Investigations 

Here are some of the outcomes and changes we made possible with the help of several other citizen lawyers and agencies –

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